Virginia finds cap acceptable (5)
I believe the answer is:
valid
'acceptable' is the definition.
(I've seen this before)
'virginia finds cap' is the wordplay.
'virginia' becomes 'va' (US state abbreviation).
'finds' says to put letters next to each other.
'cap' becomes 'lid' (eg the lid of a bottle).
'va'+'lid'='VALID'
(Other definitions for valid that I've seen before include "Well-founded" , "Legitimate" , "Sound and to the point, also legal" , "Legally good" , "Sound and logical, also legal" .)